Definition and Meaning of Advertising The word advertising originates from a Latin word advertise, which means to turn to. The dictionary meaning of the term is “to give public notice or to announce publicly”. Advertising may be defined as the process of buying sponsor-identified media space or time in order to promote a product or an idea. The American Marketing Association, has defined advertising as “any form of non-personal presentation or promotion of ideas, goods or services, by an identified sponsor.” What Advertisement Is? Advertisement is the process of mass communicating of information intended to persuade buyers to by products with a view to maximizing a company’s profits. The elements of advertising are: It is a mass communication reaching a large group of consumers. It makes mass production possible. It is non-personal communication, for it is not delivered by an actual person, nor is it addressed to a specific person. It Continue reading
Marketing Concepts
Top Reasons for the Importance of Integrated Marketing Communications
More Contact Points Traditional mass media such as radio and TV is used to be a way to advertising a product, brand or service. This type of promotional strategy only can transmit the information to some of the target customers but not all. Therefore, Integrated Marketing Communication is a form of promotional strategy where all the promotional strategies are integrated so that the company able to transmit the message to all the target customers and also the customers can interact with the company brand in many ways. For example, a customer may have heard about one restaurant from their friend which they had been go there before and had a great experience dining at there. After that, the customer goes online to search information about that restaurant which include the menu and price and also make reservations. When the days come, your restaurant have to notice how cozy the place Continue reading
Strategic Considerations in the Product Life Cycle Concept
A Product in its life cycle under goes a lot of stages, sales and profit of a product shows a lot of variation in each stage so it becomes important for a marketer to know the marketing situation and where his product is placed in Product Life Cycle (PLC),thus impacting the marketing strategy and the marketing mix. Knowledge of the product’s life cycle can provide valuable insights into ways the product can be managed to enhance sales and profitability. Marketing activities are heavily dependent on the stage in the product life cycle. Product Life Cycle has four stages: Introduction Growth Maturity Decline In reality very few products follow such a prescriptive cycle. The length of each stage varies enormously. For example Fashion products tend to have a short life cycle i.e. the time between the launch of a product and the point at which the product is mature is very Continue reading